Press Releases

Distributed: Feb 10, 2011

Alerts Login
loading.........

Share on StockTwits  
View in Other Languages 4059 4048 3969 3509 3244 3039 2854 2798 2615 2564 2271 

Sydney, Feb 10, 2011 (ABN Newswire) - We have been bullish oil since below US$40, and our US$145 target for next year remains in place says Herston Economics' Clifford Bennett. The recent selling of oil on the basis that things will calm down in Egypt, the Saudi's will pump more oil, and higher US reserve levels, all miss the two most important points. China and India will add millions of vehicles this year and there are indications global oil production is about to hit peak level beyond which it cannot go.

There are physical constraints to how much oil can be produced on a daily basis, but no limit to how many motor vehicles are going to be put on the world's new roads. Oil is tremendously cheap at current levels, says Clifford Bennett.

View the videocast here:
http://www.abnnewswire.net/multimedia/en/65193/Clifford-Bennett


Share on StockTwits  

Contact

Clifford Bennett
Herston Economics
Email: clifford@herstoneconomics.com
http://www.herstoneconomics.com

ABN Newswire
Tel: +61-2-9247-4344
Fax: +61-2-9247-4511
http://www.abnnewswire.net

  Related Companies

>>>              Herston Economics

  Related Industry Topics:

Metals | E-Commerce and Mobile | Credit & Misc. Finance | Consumers General | Financial General | E-Business | Retail & Merchant Banking | Mining | 

  This Page Viewed:  (Last 7 Days: 24) (Last 30 Days: 92) (Since Published: 3509) 

40590 40480 39690 35090 32440 30390 28540 27980 26150 25640 22710  (34970)

   

  ABN Newswire on Social Media

Site Search

 
 ENGLISH   All Languages
Send A Press Release
Webcast Your Annual General Meeting

Mobile Video TV

qrcode
Scan with your Mobile Phone to view ABN Newswire Video Channel on Mobile
 
City Index - A Better Way To Trade